diff --git a/Makefile b/Makefile
index bdf051a72..d628392eb 100644
--- a/Makefile
+++ b/Makefile
@@ -7,7 +7,7 @@ ADMIN_CONSOLE_CHART_NAME = admin-console
 ADMIN_CONSOLE_CHART_VERSION = 1.104.4
 EMBEDDED_OPERATOR_CHART_URL = oci://registry.replicated.com/library
 EMBEDDED_OPERATOR_CHART_NAME = embedded-cluster-operator
-EMBEDDED_OPERATOR_CHART_VERSION = 0.4.1
+EMBEDDED_OPERATOR_CHART_VERSION = 0.5.0
 OPENEBS_CHART_URL = https://openebs.github.io/charts
 OPENEBS_CHART_NAME = openebs/openebs
 OPENEBS_CHART_VERSION = 3.9.0